Patrons Christopher Khoo DL & Naomi Khoo and Helene Raynsford and Lord Brownlow CVO DL
Company Registration Number: 07279320 Charity Number: 1137609
Dingley Family and Specialist Early Years Centres (Limited by guarantee) Financial Statements Year ended 31 March 2023
Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Contents Year ended 31 March 2023
Page Legal and Administrative information ................................................................................................... 2. Directors’ annual report ........................................................................................................................ 3. Independent Examiner’s report ............................................................................................................ 9. Statement of financial activities ......................................................................................................... 10. Balance sheet ..................................................................................................................................... 12. Statement of cash flows ..................................................................................................................... 13. Notes to the financial statements ....................................................................................................... 14.
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Legal and Administrative information Year ended 31 March 2023
Registered office
Kennet Walk Community Centre Kenavon Drive Reading Berkshire RG1 3DG
Outreach addresses
Poplar Place Shaw Newbury Berkshire RG14 1NA
All Saints School Norrey’s Avenue Wokingham Berkshire RG40 1UX
Northumberland Road Southampton SO14 0EL
Coney Hill Road Gloucester GL4 4NA
Independent Examiner
Heather Wheelhouse ACA BDO LLP R+ 2 Blagrave Street Reading Berkshire RG1 1AZ
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Directors’ Annual Report Period from 1 April 2022 to 31 March 2023
______________ The Trustee Board presents its report, together with the financial statements, for the period from 1 April 2022 to 31 March 2023.
Reference and administrative details of the charity, and its Trustee Directors
Dingley's Promise is a registered charity, number 1137609 and is a charitable company limited by guarantee, number 07279320
The charity number, company number, present Trustees (also being Directors of the charitable company – hereafter referred to as Trustees) are noted on page 1.
Trustee Board
The members of the Trustee Board during the period were as follows:
Chair: Mr Russel Fowler (appointed 26 Nov 2020) Treasurer: Mr Peter Brogden (appointed 28 May 2020) Trustees: Mr Michael Scheepers (appointed 3 Sept 2021) Mrs Lorna Fairbairn (resigned 10 May 2022) Ms Joy Essien (resigned 08 Feb 2023) Ms Myra Kelly (resigned 06 Dec 2022) Mr Charlie Tate (appointed 18 Mar 2022) Ms Masako Eguchi-Bacon (appointed 18 Mar 2022)
Honorary President: Mr David Ormrod
Patrons Mrs Naomi Khoo Mrs Helene Raynsford Lord Brownlow of Shurlock Row
It is with great sadness that we report that patron Christopher Khoo DL passed away in 2022. We are deeply indebted for his contribution to Dingleys Promise.
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Structure, governance, and management
Dingley Family and Specialist Early Years Centres is both a registered charity and a company limited by guarantee. It is governed by Articles of Association, which were approved and adopted in August 2010, (upon registration as a charitable company), and reviewed in 2022 to reflect the full scope of the impact we aim to have on children with SEND and their families across the country.
In May 2016, the company formally adopted Dingley's Promise as the new brand name, retaining Dingley Family and Specialist Early Years Centres as its registered company name. The term Dingley's Promise (or Dingley) will be used throughout the remaining narrative sections of this document where appropriate.
As we seek volunteers with new skills and experience and as, inevitably, we must replace volunteers who can no longer work with us for various reasons, the charity will have to “induct” new Trustees on a reasonably regular basis. To provide a consistency and thoroughness of introduction that will maximise the new Trustee contribution as quickly as possible, we follow an induction process which is both simple and yet sufficiently flexible to take account of individual needs and availability. The process is described in the Trustee Induction document dated April 2017, and includes:
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Attending at least one Board Meeting as an observer;
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Providing a CV and letter/email outlining the contribution that the potential Trustee feels they will make to Dingley's Promise;
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Agreeing a written Trustee Role Specification specific to their role on the Board;
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Signing a Trustee Commitment document detailing their commitment to the organisation, including completion, within 3 months of appointment, of a Safeguarding Children Level 1 course and a clear DBS check.
Upon appointment as a Trustee, the Chair (or a designated Trustee) will inform Companies House and the Charity Commission of that appointment, and the new Trustee will complete the Ofsted EY2 on-line registration process.
When appointing key management, and when reviewing their remuneration packages, external benchmarking is undertaken against directly compatible roles, wherever possible. The Trustee Board is responsible for setting and agreeing the remuneration package of the CEO. The CEO reviews and recommends changes to the remuneration packages of his/her direct reports (see below), which must be agreed by the Trustee Board who will bear in mind the agreed expenditure budget for the relevant period.
We are aware of the Charity Governance Code and we believe our own main principles and processes by which we govern adhere very closely to the seven principles of good governance contained within the code. As we develop our Trustee Board and ways of working, we will consciously and constantly check our progress against these principles and their underlying directional guidance.
Organisational structure and decision-making process
The Trustee Board delegates day to day management of the operations of the charity to the Chief Executive Officer (CEO), Catherine McLeod MBE, who was appointed in March 2015. The CEO has four direct reports:
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Fundraising & Communications Manager
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Finance Manager (FM),
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Operations Manager
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Training Programme Manager
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
During the 2022/23 financial year, Trustee meetings were held once every two months, either via Teams or in person. In between meetings, decisions were made in consultation with the Chair, Treasurer and other Trustees as required. If necessary, a special meeting of the Board was convened.
In 2016, we created an Advisory Board, and this currently comprises the following individuals:
Jacquie Hathaway (Early Years Foundation Stage & Ofsted compliance) Laxmi Patel (SEND Law) Liz Pemberton (Equity, Diversity and Inclusion) Chris Burnell (Buildings) Lorna Fairbairn (HR)
Objectives and activities
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objective and in planning our future activities.
Dingley's Promise vision is 'The best start for every child' .
Our Mission Statement is ‘ We deliver life changing support to under 5’s with additional needs & disabilities and their families, by providing specialist learning through play, family support & training, and advice to mainstream settings’ .
Within this overall framework, our main objectives are:
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Reach as many children as possible.
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Ensure every child transitions to the best educational option for them when they leave us.
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Be active in networking and signposting to ensure all the child’s needs are met.
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Ensure parents are always given choices and their voices are heard.
We also took the opportunity as part of the strategy review to bring to the fore our core values:
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˗ We seek excellence in all we do through continuous learning and improvement.
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˗ We care for each other, our children and their families.
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˗ We promote development of children, families & our team in a stimulating environment.
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˗ We work with integrity , sharing resources and expertise for best outcomes.
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˗ We empower children and families to make their own choices.
The West Berkshire Centre operates from a building in Shaw, Newbury, which opened to families in midFebruary 2015. We have a sub-lease for the building, large garden and 10 car parking spaces with Shaw Social Club which is co-terminus with their own lease with West Berkshire Council due for review and renewal in March 2024.
The Wokingham Centre operates from premises within All Saints School in Wokingham. We have a licence to occupy this space (with 12 months’ notice by either party) and pay both fixed and variable (e.g. utilities costs) elements of rent based on the percentage of space that we occupy within the school.
The Reading Centre operates from a Reading Borough Council owned building for which we pay a peppercorn rent, but for which we must pay the buildings insurance, utilities costs and all associated building maintenance costs as part of the lease. The lease doesn’t expire until July 2034.
In January 2023 a new Centre opened in Gloucester, fully funded by Gloucester Council, initially providing paces for 16 children. A second new Centre was secured in Southampton and is expected to open its doors to children early on the new financial year.
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Volunteers play a very important role within the charity, assisting with fundraising, undertaking administration to take the pressure off teams, supporting children in the Centres, and helping with mealtimes. Dingley's Promise was awarded the Queen’s Award for Voluntary Service (the MBE for charities) in June 2011.
Risk Management Statement
A formal Risk Policy has been implemented since February 2015 and is under six monthly review.
The policy states that :
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˗ The Trustees and executive management of Dingley's Promise believe that sound risk management is integral to both good management and good governance practice.
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˗ Risk management considerations will form an integral part of our decision–making and be incorporated within strategic and operational planning.
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˗ Risk assessment will be conducted on all new activities and projects to ensure they are in line with the Dingley's Promise strategic plan and objectives.
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˗ Risks and opportunities will be identified, analysed and reported at an appropriate level and escalated as necessary.
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˗ A risk register covering key strategic risks will be maintained and updated at least twice a year and more frequently where risks are known to be volatile.
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˗ All staff will be provided with adequate training on risk management and their role and responsibilities in implementing this.
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˗ Dingley's Promise will regularly review and monitor the effectiveness of its risk management framework and update it as considered appropriate.
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˗ Reports will be made to the Trustee Board and CEO each quarter of continuing and emerging high concern risks and those where priority action is needed to effect better control.
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˗ This policy is a formal acknowledgement that the Trustee Board is committed to maintaining a strong risk management framework. The aim is to ensure that Dingley's Promise makes every effort to manage risk appropriately by maximising potential opportunities whilst minimising the adverse effects of risks.
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˗ This policy will be used to support the internal control systems of Dingley's Promise, enabling us to respond to operational, strategic and financial risks regardless of whether they are internally or externally driven.
Going concern
Our performance in recent years, even those years which resulted in an operating deficit, has always left us at the end of the year with a good cash base, a Reserves Fund to cover a managed wind-down in the event of collapse in funding (or other event resulting in forced closure), sufficient funding in all other restricted funds to cover asset values and liabilities (e.g., unspent grants) and additional unrestricted funds to develop the organisation and its services. We are aware of, and adhere to, the Charity Commission's guidance on 'Managing a charity's finances: planning, managing difficulties and insolvency (CC12)'. We firmly believe that our strong governance and management make a compelling case for Dingley's Promise to be considered a Going Concern.
Achievements and performance
This was a year of continued growth and development at Dingley’s Promise. Our four main areas of work – our Centres, our Family Support Programme, our Training & Consultancy programme and our Influencing work – all achieved significant progress this year.
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
In our Centres, we reached 15% more children directly than the previous year, and had fewer children with EHCPs and needing 1:1 support. A new pattern though is a rise in families wanting their children to go to special education when we think they would thrive in the mainstream. This means that for the first time in years the number of children leaving our service to the mainstream has dropped from 65% to just 53%. As a result, we are now tracking whether childrens transition to the setting we believe is best for them, to understand how parental trust in the mainstream system is impacting on inclusion and effective transitions.
As part of our strategy to continue to increase the number of children with SEND that we support, we were delighted to open a new Centre in Gloucester in January 2023. By our year end, this centre was flourishing with 16 children attending and 11 being supported through outreach. Five of these children are already expected to transition back to the mainstream in the next term, and four of our new starters had been unsuccessful in the mainstream but their families have now grown in confidence that their needs can be met in our setting. In addition we will soon be opening our doors at a second new Centre based in Southampton and funded by Southampton Council.
Our family support programme saw continued growth linked to the reach of our work, which now not only supports the families in our centres, but also the families on our waiting lists and other families with children with SEND in our local areas. Even if the children do not attend a Dingley Centre, we are committed to supporting their families, helping them link with others in the same situation, and supporting them to access the best early education provision for their children.
As in previous years, our families this year have reported high levels of satisfaction with the work we do, with 93% saying they feel more positive about the future as a result of our help, and 96% say they are more confident in supporting their child. Parents commented:
‘They have given so much support and love to our little girl and her speech and interaction has come on leaps and bounds.’
‘My son can communicate much better and is less frustrated and physical in harming himself. His understanding has come such a long way.’
Thirdly, our Training and Consultancy Programme continued to grow substantially, and we worked with 38 Local Authorities (compared with 4 in 2020/21, and 20 in 2021/22) supporting their early years strategic development. The number of learners grew to 5600, an increase of 1200% on 2021/22, showing that we are successfully growing the take up of our training across the country. Training is central to our strategy, and our ongoing programme with Comic Relief will see us grow our practitioners base to 30,000 over the next four years.
Finally, our Influencing programme has continued at pace, with demand for us to speak at various national forums and meetings focusing on the early years and children with SEND continues to grow. Our CEO has presented at events including the APPG for Childcare and Early Education, the Nursery World SEND Conference, Local Government Association webinars, Westminster Education Forum online conference and a Coram webinar. We have now joined the national Special Education Consortium.
Financial Review
The financial year 2022/23 was another year of growth for Dingley’s Promise. Total income increased by 16% over the previous year to reach £991K. Local Authority payments grew by £73K (+72%) and Nursery Education Grants by £55K (+39%), while earnings from Consultancy and Training increased from £71K to £97K, a growth of 37%. The programmes funded by the major grantors, Comic Relief, Big Lottery and Children in Need, continued unchanged.
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Dlngl8y Famlly and Spè¢iali$t Early Years Centr88 ILimited by guarantee) Expenditure Increased from £852K ITh She previOuSYear to £1021K In 2022123.1421KI Wrthin rhi$ irtcreased spend E58K relaredgo two new cenires. opened iowardsthe end DI the vear, and £20K tothe new Stronger PraEtICE Hub project. At the end of 2022123 rhe cbarity IS reporting a net deficit of £30K. The TruStee5. however, are confident thatthis Isa remporary Imbdance. The b31ance sheei remains SlrLTrnÉ Wlth net a55er5 of £243K and cash AS mentioned above, DingV,5 Promise opened a new centre In Gloucoster late In 2D21123. A furthei new Plèns forfuturÈ period5. meÈtiAg5 Including the Trustee Board meetirtg5 Our Iwe-year sirategy has luur core Iocvs areas. DÈvelop all eXJSilTrg newcenttestts Énsure they are centres of ÈNTrllencc, with a locuson Quality of oper8tLonal Mana8emenL Open eght new centres across England to Ènsure we have a p(esence In every region and ale able ExpIr Our training io reach SO.DOO lelmer5overf1 years Isee progre55 above). Increasing the number of short courses From four to ten.developinga progrèmme for 5p2cia115t 5etllDgs and brinkin8the running of our accredited Level 3 pro8ramTe In house We are both ambitiou5 about whattan bcachievth overthe cotningvears and have the Support ol gur Siined by aerof thTwieeDKe¢iur Bo 13. Soptemb¢f2023 IAr PgtrBro4 en Company rEgisration number.. 07279320
Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Independent Examiner’s report
to the Directors of Dingley Family and Specialist Early Years Centre
I report on the accounts of the company for the year ended 31 March 2023, which are set out on pages 10 to 21.
This report is made solely to the charity’s trustees, as a body, in accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity’s trustees as a body, for my work, for this report, or for the statement I have made.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe:
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(1) accounting records were not kept in respect of the Company as required by section 386 of the Act 2006; or
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(2) the accounts do not accord with those records; or
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(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or
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(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
…………………………
Heather Wheelhouse ACA
BDO LLP R+ 2 Blagrave Street Reading Berkshire RG1 1AZ 23 October 2023 Date: …………………………
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| Dingley Family and Specialist Early Years Centres (Limited by guarantee) 10 Statement of financial activities for the year ended 31 March 2023 Unrestricted Funds Training Offering Reading Reading Buildings Wokingham Restricted funds Wokingham Buildings Newbury Newbury Buildings Gloucester Southampton 2023 Total 2022 Total £ £ £ £ £ £ £ £ £ £ £ £ Income and endowments from: Donations and legacies - Donations and legacies 146,029 - 1,000 - 1,500 - 2,118 - - - 150,647 166,804 - Grants (note 2) 6,394 181,643 59,863 - 85,373 - 43,434 - - - 376,707 289,637 Income from investments - Bank interest 813 - - - - - - - - - 813 483 Charitable activities - Performance related grants (note 2) 18,455 11,261 137,259 - 135,584 - 87,580 - 47,261 25,810 463,210 395,281 Total income and endowments 171,691 192,904 198,122 - 222,457 - 133,132 - 47,261 25,810 991,377 852,205 Expenditure on: Raising funds (note 3a) 90,301 414 216 - 805 - 189 - 87 10 92,022 88,280 Charitable activities (note 3b) 10,243 175,065 255,991 1,898 207,015 - 208,878 12,327 46,088 11,444 928,949 763,599 Total expenditure 100,544 175,479 256,207 1,898 207,820 - 209,067 12,327 46,175 11,454 1,020,971 851,879 Net (expenditure)/ income 71,147 17,425 (58,085) (1,898) 14,637 - (75,935) (12,327) 1,086 14,356 (29,594) 326 Transfers between funds (132,422) - 56,127 - - - 75,935 - 360 - - - Net movement in funds (61,275) 17,425 (1,958) (1,898) 14,637 - - (12,327) 1,446 14,356 (29,594) 326 Fund balances brought forward at 1 April 2022 150,033 42,865 1,958 37,331 11,909 - - 28,607 - - 272,703 272,377 Fund balances carried forward at 31 March 2023 88,758 60,290 - 35,433 26,546 - - 16,280 1,446 14,356 243,109 272,703 Transfers from the Unrestricted Fund to the Reading and Newbury Restricted Funds are made to ensure that the balances carried forward into 2023/22 for each of these restricted funds are sufficient to cover any deficit. The charitable company’s income and expenditure all relate to continuing activities. The charitable company has no recognised gains and losses other than the net movement in funds each year. The notes on pages 14 to 21 form part of these financial statements __________________________ |
Dingley Family and Specialist Early Years Centres (Limited by guarantee) 10 Statement of financial activities for the year ended 31 March 2023 Unrestricted Funds Training Offering Reading Reading Buildings Wokingham Restricted funds Wokingham Buildings Newbury Newbury Buildings Gloucester Southampton 2023 Total 2022 Total £ £ £ £ £ £ £ £ £ £ £ £ Income and endowments from: Donations and legacies - Donations and legacies 146,029 - 1,000 - 1,500 - 2,118 - - - 150,647 166,804 - Grants (note 2) 6,394 181,643 59,863 - 85,373 - 43,434 - - - 376,707 289,637 Income from investments - Bank interest 813 - - - - - - - - - 813 483 Charitable activities - Performance related grants (note 2) 18,455 11,261 137,259 - 135,584 - 87,580 - 47,261 25,810 463,210 395,281 Total income and endowments 171,691 192,904 198,122 - 222,457 - 133,132 - 47,261 25,810 991,377 852,205 Expenditure on: Raising funds (note 3a) 90,301 414 216 - 805 - 189 - 87 10 92,022 88,280 Charitable activities (note 3b) 10,243 175,065 255,991 1,898 207,015 - 208,878 12,327 46,088 11,444 928,949 763,599 Total expenditure 100,544 175,479 256,207 1,898 207,820 - 209,067 12,327 46,175 11,454 1,020,971 851,879 Net (expenditure)/ income 71,147 17,425 (58,085) (1,898) 14,637 - (75,935) (12,327) 1,086 14,356 (29,594) 326 Transfers between funds (132,422) - 56,127 - - - 75,935 - 360 - - - Net movement in funds (61,275) 17,425 (1,958) (1,898) 14,637 - - (12,327) 1,446 14,356 (29,594) 326 Fund balances brought forward at 1 April 2022 150,033 42,865 1,958 37,331 11,909 - - 28,607 - - 272,703 272,377 Fund balances carried forward at 31 March 2023 88,758 60,290 - 35,433 26,546 - - 16,280 1,446 14,356 243,109 272,703 Transfers from the Unrestricted Fund to the Reading and Newbury Restricted Funds are made to ensure that the balances carried forward into 2023/22 for each of these restricted funds are sufficient to cover any deficit. The charitable company’s income and expenditure all relate to continuing activities. The charitable company has no recognised gains and losses other than the net movement in funds each year. The notes on pages 14 to 21 form part of these financial statements __________________________ |
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| 171,691 192,904 198,122 - 222,457 - 133,132 - 47,261 25,810 991,377 852,205 |
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| 90,301 414 216 - 805 - 189 - 87 10 92,022 88,280 10,243 175,065 255,991 1,898 207,015 - 208,878 12,327 46,088 11,444 928,949 763,599 |
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| 100,544 175,479 256,207 1,898 207,820 - 209,067 12,327 46,175 11,454 1,020,971 851,879 |
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| 71,147 17,425 (58,085) (1,898) 14,637 - (75,935) (12,327) 1,086 14,356 (29,594) 326 (132,422) - 56,127 - - - 75,935 - 360 - - - |
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| (61,275) 17,425 (1,958) (1,898) 14,637 - - (12,327) 1,446 14,356 (29,594) 326 |
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| 150,033 42,865 1,958 37,331 11,909 - - 28,607 - - 272,703 272,377 |
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| 88,758 60,290 - 35,433 26,546 - - 16,280 1,446 14,356 243,109 272,703 |
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Statement of financial activities for the year ended 31 March 2022
| Income and endowments from: Donations and legacies - Donations and legacies - Grants (note 2) Income from investments - Bank interest Charitable activities - Earned income - Grants (note 2) Total income and endowments Expenditure on: Raising funds (note 3a) Charitable activities (note 3b) Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Fund balances brought forward at 1 April 2021 Fund balances carried forward at 31 March 2022 |
Unrestricted Funds £ 159,786 17,150 483 2,735 - 180,154 87,468 7,211 94,679 85,475 (83,312) 2,163 147,870 150,033 |
Training Offering £ - 89,785 - 70,001 - 159,786 - 116,921 116,921 42,865 - 42,865 - 42,865 |
Reading £ 900 47,717 - 48,491 77,348 174,456 357 229,680 230,037 (55,581) 22,573 (33,008) 34,966 1,958 |
Restricted funds Reading Buildings Wokingham £ £ - - - 73,658 - - - 92,561 - 30,000 - 196,219 - 166 1,747 192,743 1,747 192,909 (1,747) 3,310 - - (1,747) 3,310 39,078 8,599 37,331 11,909 |
Wokingham Buildings £ - - - - - - - - - - - - - |
Newbury £ 6,118 61,327 - 44,145 30,000 141,590 289 202,970 203,259 (61,669) 60,739 (930) 930 - |
Newbury Buildings £ - - - - - - 12,327 12,327 (12,327) - (12,327) 40,934 28,607 |
2022 Total £ 166,804 289,637 483 257,933 137,348 852,205 88,280 763,599 851,879 326 - 326 272,377 272,703 |
2021 Total £ 64,779 370,990 921 239,590 125,847 802,127 85,332 664,097 749,430 52,697 - 52,697 219,680 272,377 |
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Transfers from the Unrestricted Fund to the Training, Reading and Newbury Restricted Funds are made to ensure that the balances carried forward into 2023/22 for each of these restricted funds are sufficient to cover any deficit. The charitable company’s income and expenditure all relate to continuing activities. The charitable company has no recognised gains and losses other than the net movement in funds each year.
The notes on pages 14 to 21 form part of these financial statements
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Dingloy Famlly and Spo¢lall8t Early Yèars C•ntr•s ILimit8d by guaranteol Balanco shoet As at 31 IAarch 2023 Not• 202J 3)22 Tan9e riAed assets 43,49S 58.540 Cuit•nt assots (Mbdt0r$artd pièpa>ryYtsI$ Cash Dan 124.295 54237 260.372 425.4TS 314,609 CfftthtotS-. amounts f4llin9duo %iihin on¢y¢ar oiher yediiDrs and aXlua15 IIW.4461 Not currnnt ass•ls 214,163 Nétaslgts 2,fj0j 272.703 R¢pre$ntO# by". Fund$ Unres1ncl8d fund$ Renthdfunds 88,758 154,351 129,555 243.tog 272.TrJ Tne Dirèctor$ 3r8 sabsfiod that thg ¢hariiawè bompsny is onlilled lo gxempii¢n hDm Ihe of Ihe Compan5 A¢1 20 (the lI11n9 to the wdll ol 51atempnls lor th8 year virtue Of se¢hDA 477 and no nmknrormembors havèroquÉSIgJ * auttiipuf5uantio 476 ¢f1heACI. The Dir•¢ton% aBknDwltythali ré6ponsibililies f Ihat lh& chaflè k4ps ithquatè acc11 ro¢5 whth coThwty wjlh 380 Of Ih8Ath." and pr@p3iillg ststemeni$ wni¢h ¢lVt a tsuo and far vw d the 918te of affai of IhÈ thaii1abY¢ ruurLtS ol sethn5 394 alld 395. and %vDKh Olh&MSe cornpty If rAleieI5 of the Aci reiabng lofiThanu8lsl•rn¢nt$. a5 Bpplic4t lo Ihe chaniable¢ompany Thege finan¢BI statements have been prep3rfyl in ¥CanCe the SWCi4 prOOnSOf P¥ 1$ Of Iho t(ry1@S Acl 2(ralIngt9 Small companios These Tinantiai giaiÈThL8nts apWd ty 10r ard dnd th(Se for issue m 1P Sepiettty 2023and were Irball by" NIPpr8rD9a&Th Comgany rogistratkn numtsor. 07279320 Th• n¢X•S on p#o•4 14to 21 forn p4n fin4ncial statèment8.
Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Statement of cash flows Year ended 31 March 2023
| _____________ Note Cash flows from operating activities Cash provided by operating activities 13 Cash flows from investing activities Interest income Purchase of tangible fixed assets Cash used in investing activities Increase in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year Analysis of cash and cash equivalents Cash in hand |
______ 2023 £ 50,038 813 (7,043) (6,230) 43,808 260,372 304,180 304,180 |
__ 2022 £ 15,916 483 - 483 16,397 243,975 260,372 260,372 |
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The notes on pages 14 to 21 form part of these financial statements.
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Notes to the financial statements Year ended 31 March 2023
1. Accounting policies
General information
Dingley Family and Specialist Early Years Centres is a registered charity, registered in England and Wales, number 1137609, and a charitable company limited by guarantee, number 07279320, incorporated in England and Wales. The address of its registered office is Kennet Walk Community Centre, Kenavon Drive, Reading, Berkshire, RG1 3GD.
Basis of accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) – (Charities SORP(FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
The financial statements are prepared in pound sterling (£) and the figures are rounded to the nearest £.
Going concern
Our performance in recent years, even those years which resulted in an operating deficit, has always left us at the end of the year with a good cash base, a Reserves Fund to cover a managed wind-down in the event of collapse in funding (or other event resulting in forced closure), sufficient funding in all other restricted funds to cover asset values and liabilities (e.g., unspent grants) and additional unrestricted funds to develop the organisation and its services. In each of the last three years, we have operated for a time without a Fundraising Manager yet have achieved income no worse than 9% short of budget and managed our operational expenditure to match. We are aware of, and adhere to, the Charity Commission's guidance on 'Managing a charity's finances: planning, managing difficulties and insolvency (CC12)'. Under normal circumstances we firmly believe that our strong governance and management make a compelling case for Dingley's Promise to be considered a Going Concern.
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees believe that whilst there is some doubt relating to future income streams, this does not give rise to a material uncertainty regarding the charity's ability to continue as a going concern. The trustees therefore believe that it is appropriate to prepare the accounts on a going concern basis.
At the end of August 2023, the charity had approximately £315,000 of cash available. The trustees have carried out sensitivity analysis that confirms that should no further income, other than what has been confirmed, be received, the charity is able to meet liabilities as they fall due for at least another 12 months from the date of approval of the financial statements.
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Notes to the financial statements Year ended 31 March 2023
1. Accounting policies ( continued )
Funds
Unrestricted funds represent funds of the charitable company that are not subject to any restrictions regarding their use.
Restricted funds represent funds available to meet specific expenditure as specified by the fund provider.
Income
All income is recognised in the Statement of Financial Activities when the company is legally entitled to the income, receipt is probable and the amount can be measured reliably. Income from external grants is recognised in the Statement of Financial Activities as soon as it is receivable unless donor conditions related to performance and specific deliverables apply. These grants are accounted for as the charity earns the right to consideration through performance.
Income subject to the specific wishes of the donors is treated as restricted funds.
Expenditure
Expenditure is included on an accruals basis, inclusive of any VAT, which cannot be recovered. Certain expenditure is apportioned to costs categories based on the estimated amount attributable to the activity during the year.
Depreciation
Depreciation is calculated to write off the cost less estimated residual value of fixed assets over their estimated useful lives.
Equipment – 4 years straight-line Leasehold improvements – over the remaining term of the lease
Operating leases
Rentals applicable to operating leases are charged to the Statement of Financial Activity over the period in which the cost is incurred.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Pensions
The charity contributes to a defined contributions scheme.
Significant judgements and estimates
In the application of the charity's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There were no judgement or material estimation uncertainties affecting the reported financial performance in the current or prior year.
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Notes to the financial statements (continued) Year ended 31 March 2023
| 2. Grants Bailey Thomas Barbard Ward Berkshire Community Foundation Big Lottery COL Big Lottery Core Bosher Hinton Foundation Calderdale Council CDC Funding Charities Trust Children In Need Comic Relief Edward Gostling Field Seymour Parks Garfield Weston Global Make Some Noise Gloucestershire County Council Greenham Trust Ltd Improvement And Development Agency Jules Thornton Peter Baker Playschemes Peter Harrison RBC FSW Project Reading Borough Council Reading SLA Rutland County Council Souter Playschemes Southampton City Council (performance related contract) St James’s Place Swindon Borough Council The Early Charity West Berks SLA Wokingham SLA Wokingham Town Council Wokingham UC |
Unrestricted Funds Restricted funds Training Offering Reading Wokingham Newbury Gloucester Southampton 2023 Total £ £ £ £ £ £ £ £ - - - 3,000 2,000 - - 5,000 5,000 - - - - - - 5,000 - - - 5,458 - - - 5,458 - - - 9,468 - - - 9,468 - - - 39,410 - - - 39,410 - - 1,929 - - - - 1,929 - 644 - - - - - 644 - 64,340 - - - - - 64,340 350 - - - - - - 350 - - 19,718 - 19,717 - - 39,435 - 114,652 - - - - - 114,652 - - - 6,594 - - - 6,594 - - - 1,790 - - - 1,790 - - 6,250 6,250 6,250 - - 18,750 - - 6,043 6,043 6,043 - - 18,129 - - - - - 47,261 - 47,261 - - - - 5,000 - - 5,000 - 800 - - - - - 800 - - - 1,500 - - - 1,500 - - - - 2,000 - - 2,000 - - 1,044 1,044 1,043 - - 3,131 - - 15,106 - - - - 15,106 - - 31,346 - - - - 31,346 - - 41,800 - - - - 41,800 - 800 - - - - - 800 - - - 1,380 1,380 - - 2,760 - - - - - - 25,810 25,810 - - 5,000 - - - - 5,000 - 406 - - - - - 406 - - 4,774 - - - - 4,774 - - - - 30,000 - - 30,000 - - - 30,000 - - - 30,000 - - - 1,158 - - - 1,158 - - - 3,322 - - - 3,322 |
|---|---|
| 5,350 181,642 133,010 116,417 73,433 47,261 25,810 582,923 |
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Notes to the financial statements (continued) Year ended 31 March 2023
3. Expenditure
Unrestricted Funds Restricted funds Reading Centre Reading Building Wokingham Centre Wokingham Building Newbury Centre £ £ £ £ £ £ a) Expenditure on raising funds Advertising/Marketing 1,839 189 - 695 - 189 Fundraising purchases 6,716 27 - 110 - - Salaries, national insurance & pensions 69,954 - - - - - Contractors 5,673 - - - - - Fundraising – Major event costs 6,119 - - - - - 90,301 216 - 805 - 189 b) Expenditure on charitable activities Salaries, national insurance & pensions - 186,822 - 158,418 - 156,420 Contractor - 7,061 - 6,996 - 6,996 Play equipment expenses - 3,722 - 3,569 - 1,609 Transport costs - 1,535 - 56 - 80 Stationery & consumables 285 570 - 1,803 - 883 Rent, rates & utilities 785 8,929 - 11,363 - 12,146 Building & garden work - 20,945 - 358 - 13,352 Inspection costs - - - 220 - - Training & personal development 1,037 3,382 - 2,820 - 3,203 Insurance - 1,272 1,474 1,272 - 1,272 Bank fees 1,027 63 - 63 - 63 Computer running costs 1,138 2,745 - 2,745 - 2,745 General purchases 5,294 8,981 - 13,847 - 6,811 Legal and professional fees - - - - - - Special Events - 2,505 - 730 - 2,243 Depreciation - 6,782 424 2,078 - 377 Independent examiner’s fee 420 420 - 420 - 421 Accounts preparation fee 257 257 - 257 - 257 Doubtful debt expense - - - - - - 10,243 255,991 1,898 207,015 - 208,878 |
Newbury Building Training Offering Gloucester Centre Southampton Centre 2023 Total 2022 Total £ £ £ £ £ £ - 414 87 10 3,423 2,834 - - - - 6,853 16,208 - - - - 69,954 60,624 - - - - 5,673 8,564 - - - - 6,119 50 - 414 87 10 92,022 88,280 - 109,204 26,728 6,699 644,291 514,024 - 46,707 1,325 379 69,464 66,086 - 529 2,492 18 11,939 18,502 - - - - 1,671 3,697 - - 296 7 3,844 2,180 - 226 (94) 22 33,377 29,773 - - 252 - 34,907 36,461 - - - - 220 220 - - 458 1,009 11,909 10,380 - - 1,026 7 6,323 5,379 - - 12 3 1,231 525 - - 520 149 10,042 11,810 - 17,222 12,299 974 65,428 15,297 - 500 - 1,500 2,000 14,649 - - - - 5,478 5,970 12,327 - 98 - 22,086 23,735 - 420 419 420 2,940 3,150 - 257 257 257 1,799 1,050 - - - - - 1,493 12,327 175,065 46,088 11,444 928,949 763,599 |
|---|---|
Rent expenditure is not seen as a donated service as there is no reliable estimate for a rental value, is it also seen as surplus to requirements for the Reading Borough Council and therefore has no market value. _______________________
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Notes to the financial statements (continued) Year ended 31 March 2023
| 4. Staff costs Salaries Employers NI Employer Pension Contributions The average number of part-time employees was The average number of full time employees was |
2023 2022 £ £ 654,432 530,600 41,570 29,540 18,24314,508 714,245 574,648 No. No. 48 33 9 7 |
|---|---|
No employees received employee benefits in excess of £60,000 (2022 – Nil).
No member of the Trustee Director Board received any remuneration or expenses during the year (2022 – Nil).
The key management personnel of the charity received employee benefits totalling £254,316 (2022 - £231,437).
5. Tangible fixed assets
| Leasehold | ||||||
|---|---|---|---|---|---|---|
| Improvements | Equipment | Total | ||||
| £ | £ | £ | ||||
| Cost | ||||||
| At 31 March 2022 | 177,279 | 55,641 | 232,920 | |||
| Additions | 2,912 | 4,131 | 7,043 | |||
| Disposals | - | (2,391) | (2,391) | |||
| At 31 March 2023 | 180,191 | 57,381 | 237,572 | |||
| Depreciation | ||||||
| At 31 March 2022 | 124,957 | 49,423 | 174,380 | |||
| Charge for the year | 17,291 | 4,797 | 22,088 | |||
| Elimination of disposal | - | (2,391) | (2,391) | |||
| At 31 March 2023 | 142,248 | 51,829 | 194,077 | |||
| Net book value | ||||||
| At 31 March 2023 | 37,943 | 5,552 | 43,495 | |||
| Net book value | ||||||
| At 31 March 2022 | 52,322 | 6,218 | 58,540 |
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Notes to the financial statements (continued) Year ended 31 March 2023
6. Debtors
| Other debtors Doubtful debts Prepayments 7. Creditors Amounts falling due within one year Trade creditors Other taxes, social security & pensions Accruals & other creditors Deferred income |
2023 £ 2022 £ 98,854 33,373 - (1,493) 25,441 22,357 124,295 54,237 2023 2022 £ £ 12,566 17,203 17,57311,410 11,1336,066 187,58965,767 228,861100,446 |
|---|---|
Income received during the year that has been deferred as it does not meet the recognition criteria as set out in the accounting policies is as follows:
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Unrestricted
Restricted Funds
Funds 2023
Training
Offering Reading Wokingham Newbury Glouces Total
ter
£ £ £ £ £ £ £
The Garfield Weston Foundation 6,250 - - - - - 6,250
Newbury Town Council - 28,241 - - - - 28,241
The Good Exchange - - - - 34,080 - 34,080
Big Lottery Fund - - - 12,080 - - 12,080
Gloucestershire County Council - - - - - 41,614 41,614
Rutland County Council - 400 - - - - 400
Calderdale Council - 900 - - - - 900
Donorfy Web App - - 135 - 1,500 - 1,635
East Sussex County Council - 17,500 - - - - 17,500
Wokingham BC - - - 689 - - 689
HUB Blagdon - 32,000 - - - - 32,000
The Steel Boys 200 - - - - - 200
Global’s Make Some Noise 10,000 - - - - - 10,000
Peter Baker Foundation - - - - 2,000 - 2,000
16,450 79,041 135 12,769 37,580 41,614 187,589
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Dingley Family and Specialist Early Years Centres
(Limited by guarantee)
Notes to the financial statements (continued)
Year ended 31 March 2023
______________
7. Creditors (continued)
Unrestricted Restricted
Funds Funds 2022
Training
Reading Wokingham Newbury Total
Offering
£ £ £ £
- - - -
Big Lottery Fund 3,233 3,233
Comic Relief - 29,928 - - - 29,928
Global’s Make Some Noise 18,130 - - - - 18.130
Nicola Marriott - - 120 - - 120
Peter Harrison Foundation - - 1,044 1,044 1,044 3,132
- - - -
Wokingham Borough Council 11,224 11,224
18,130 29,928 1,164 15,501 1,044 65,767
8. Analysis of net assets between funds
Unrestricted Restricted Total 2023
£ £ £
Tangible fixed assets - 43,495 43,495
Net current assets 88,758 110,856 199,614
88,758 154,351 243,109
Unrestricted Restricted Total 2022
£ £ £
Tangible fixed assets - 58,540 58,540
Net current assets 143,148 71,015 214,163
143,148 129,555 272,703
_______________
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Notes to the financial statements (continued) Year ended 31 March 2023
9. Reserves policy
The directors have reviewed and renewed the reserves policy. The new total requirement for 4 months of net operating costs, redundancy and other costs would be £23,024 (2022 - £190,391). This would be covered by:
| Unrestricted Funds | £23,024 |
|---|---|
| Newbury Restricted Funds | - |
| Reading Restricted Funds | - |
| Wokingham Restricted Funds | - |
10. Commitments under operating leases
At 31 March 2023 the company had future minimum lease payments under non-cancellable operating leases as set out below:
| Land and | Land and | |
|---|---|---|
| buildings | buildings | |
| 2023 | 2022 | |
| £ | £ | |
| Within 1 year | 15,952 | 15,952 |
| Later than 1 year and not later than 5 years | - | 7,800 |
| Later than 5 years | - | - |
─────── |
─────── |
|
15,952═══════ |
23,752═══════ |
11. Pensions
The charitable company runs a defined contribution scheme. The costs for the year represents the charitable company’s contributions to the scheme of £18,243 (2022 - £14,508). At the year end £4,914 (2022 - £2,516) was accrued in respect of contributions to this scheme.
12. Taxation
The charitable company is exempt from Corporation Tax on its charitable activities. The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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Dingley Family and Specialist Early Years Centres (Limited by guarantee)
Notes to the financial statements (continued) Year ended 31 March 2023
13. Reconciliation of income/(expenditure) in funds to net cash flow from operating activities
| 2023 | 2022 |
|
|---|---|---|
| £ | £ |
|
| Net (expenditure/ income |
(29,594) | 326 |
| Add back depreciation charge | 22,087 | 23,735 |
| Deduct investment income shown in investing activities | (813) | (483) |
| (Increase) in debtors |
(65,203) | (26,275) |
| Increase in creditors | 123,561 | 18,613 |
| Net cash provided by operating activities | 50,038 | 15,916 |
Analysis of changes in net debt
| At 1 April | Cashflows | At 31 March | |
|---|---|---|---|
| 2022 | 2023 | ||
| £ | £ | £ | |
| Cash at bank and in hand | 260,372 | 43,808 | 304,180 |
14. Related party transactions
During the year the charitable company paid equipment fees of £nil (2022: £1,104) to R J Morgan Fencing Ltd, a company which is owned by the spouse of Zora Morgan, the Wokingham Centre Manager.
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